AVID TV

23/01/2024

2024 FORBE'S LIST OF AFRICA'S RICHEST BILLIONAIRES:

1. Aliko Dangote
Net worth: $13.9 billion
Net worth in 2023: $13.5 billion
Origin of wealth: Cement and Sugar
Age: 66
Country: Nigeria

2. Johann Rupert and family
Net worth: $10.1 billion
Rank in 2023: 2
Net worth in 2023: $10.7 billion
Origin of wealth: Luxury goods
Age: 73
Country: South Africa

3. Nicky Oppenheimer & family
Net worth: $9.4 billion
Rank in 2023: 3
Net worth in 2023: $8.4 billion
Origin of wealth: Diamonds
Age: 78
Country: South Africa

4. Nassef Sawiris
Net worth: $8.7 billion
Rank in 2023: 5
Net worth in 2023: $7.2 billion
Origin of wealth: Construction and Investments
Age: 63
Country: Egypt

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5. Mike Adenuga
Net worth: $6.9 billion
Rank in 2023: 6
Net worth in 2023: $5.6 billion
Origin of wealth: Telecom and Oil
Age: 70
Country: Nigeria

6. Abdulsamad Rabiu
Net worth: $5.9 billion
Rank in 2023: 4
Net worth in 2023: $7.6 billion
Inherited and growing
Origin of wealth: Cement and Sugar
Age: 63
Country: Nigeria

7. Naguib Sawiris
Net worth: $3.8 billion
Rank in 2023: 8
Net worth in 2023: $3.3 billion
Inherited and growing
Origin of wealth: Telecom
Age: 69
Country: Egypt

8. Mohamed Mansour
Net worth: $3.2 billion
Rank in 2023: 10
Net worth in 2023: $2.8 billion
Self-made
Origin of wealth: Diversified
Age: 76
Country: Egypt

9. Koos Bekker
Net worth: $2.7 billion
Rank in 2023: 11
Net worth in 2023: $2.6 billion
Origin of wealth: Media, Investments
Age: 71
Country: South Africa

9. Patrice Motsepe
Net worth: $2.7 billion
Rank in 2023: 9
Net worth in 2023: $3.1 billion
Origin of wealth: Mining
Age: 61
Country: South Africa

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11. Issad Rebrab & family
Net worth: $2.5 billion
Rank in 2023: 7
Net worth in 2023: $4.6 billion
Origin of wealth: Food
Age: 80
Country: Algeria

12. Mohammed Dewji
Net worth: $1.8 billion
Rank in 2023: 15
Net worth in 2023: $1.5 billion
Origin of wealth: Diversified
Age: 48
Country: Tanzania

12. Strive Masiyiwa
Net worth: $1.8 billion
Rank in 2023: 12
Net worth in 2023: $1.9 billion
Origin of wealth: Telecom
Age: 62
Country: Zimbabwe

14. Aziz Akhannouch & family
Net worth: $1.7 billion
Rank in 2023: 14
Net worth in 2023: $1.5 billion
Origin of wealth: Petroleum, Diversified
Age: 63
Country: Morocco

15. Othman Benjelloun & family
Net worth: $1.4 billion
Rank in 2023: 16
Net worth in 2023: $1.3 billion
Origin of wealth: Banking, insurance
Age: 91
Country: Morocco

16. Youssef Mansour
Net worth: $1.3 billion
Rank in 2023: 13
Net worth in 2023: $1.5 billion
Origin of wealth: Diversified
Age: 78
Country: Egypt

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17. Yasseen Mansour
Net worth: $1.2 billion
Rank in 2023: 19
Net worth in 2023: $1.1 billion
Origin of wealth: Diversified
Age: 62
Country: Egypt

17. Christoffel Wiese
Net worth: $1.2 billion
Rank in 2023: 18
Net worth in 2023: $1.1 billion
Origin of wealth: Retail
Age: 82
Country: South Africa
Residence: Cape Town

19. Michiel Le Roux
Net worth: $1.1 billion
Rank in 2023: 17
Net worth in 2023: $1.2 billion
Origin of wealth: Banking
Age: 74
Country: South Africa

19. Femi Otedola
Net worth: $1.1 billion
Origin of wealth: Gas stations, Utilities
Country: Nigeria

23/01/2024

✅✅✅
Continuous improvement is better than delayed perfection. Think 🤔 about it.

Enjoy the rest of your day 👍.

*Remember to always stay hydrated by drinking lots of water especially during the morning and afternoon hours 💧... very important 👌*

Good morning....👊
✅✅✅

22/01/2024

Who's your favourite?

13/01/2024

Senator Nwoye of the Labour Party generously distributing relief gifts to his constituents. I've never witnessed a politician provide such substantial relief materials in my lifetime. This marks a historic milestone for Nigeria – obviously the highest ever recorded. Our politicians should learn not to take their people for granted.
Stay tuned until the end.

04/01/2024

Portable Warns Mc Olumo, Koko Zaria Over Having Affair With His Baby Mama.

Portable calls out Koko Zaria, henchman of notorious Lagos king of touts, Mc Olumo and warns the former to stop knacking his baby mama in his son's presence.

03/01/2024

Congratulations to you, Mr. & Mrs. Ozioma Light Nwadikemba.

Send a message to learn more

31/12/2023

This kind of situation can be avoided with just N5000. Always make sure you have fire extinguisher in your car. If possible, buy 2. And make sure you keep it where you can easily lay hands on it such situation as this.

This is quite unfortunate. Somebody's business just gone like that in a twinkle of am eye.

Let's be wise, biko nu.

24/12/2023

21/12/2023

As children visit the villages during this holidays, remind them that the experience is genuine, not just a Play Station game.

10/12/2023

Christmas is around the corner.
Let nothing deny you the fun.
Choose your own fun partner.
ARE YOU READY❓😀😄😆

08/12/2023

BREAKING NEWS: Fake naira notes in circulation — CBN

The Central Bank of Nigeria (CBN) on Friday, December 8, 2023, drew attention of Nigerians to the circulation of “counterfeit banknotes, especially higher denominations, by some individuals for transactions in food markets and other commercial centres across major cities in the country.”

The Bank’s Ag. Director, Corporate Communications, Sidi Ali, Hakama (Mrs.), in a statement drew attention to Section 20(4) of the CBN Act (2007) as amended, which states that:

“It shall be an offence punishable by a term of imprisonment of not less than 5 years for any person to falsify, make or counterfeit any bank note or coin issued by the Bank which is legal tender in Nigeria.”

She added: “The CBN is in constant collaboration with relevant security and financial agencies to confiscate fake Naira banknotes, arrest and prosecute counterfeiters. Members of the public are also encouraged to report anyone suspected of having counterfeit naira notes to the nearest police station, branch of the Central Bank of Nigeria or via [email protected].

“Meanwhile, all Deposit Money Banks, Financial Houses and Bureau de Change and the general public are enjoined to be more vigilant and take all necessary precautionary measures to curtail the acceptance and distribution of counterfeit notes.

“Furthermore, the general public is encouraged to embrace alternative modes of payment, echannels, for day-to-day transactions to mitigate the risk of spreading counterfeit banknotes.”

07/12/2023

ANOTHER MANUFACTURING GIANT, P&G, DUMPS NIGERIA AS FOREX CRISIS TAKES TOLL ON PRODUCTION.

•Joins GSK, Unilever, Evans Medical, Sanofi

A global leader in consumer goods, Procter & Gamble Nigeria is the latest casualty of Nigeria’s harsh operating environment, as the company, yesterday, announced that it was transitioning local operations to an import-only model, effectively dissolving its on-ground presence in the country.

This decision, it said, stems from the increasingly challenging business environment, particularly dollar-denominated operations, lower spending power and the general high cost of doing business.

The move means that thousands of jobs and millions of dollars in investment of the company have been lost.

In 2018, the firm, which employed about 5000 workers, sacked hundreds of staff in tranches. It shut its largest plant in Nigeria at Agbara Industrial Estate, Ogun State, just about a year after it was commissioned.

The latest revelation comes five years after the company denied exiting Nigeria when it laid off hundreds of workers and scaled down operations in the country. The company had denied it was troubled, claiming it was restructuring and had no plans to exit.

P&G, which operates in some 180 countries of the world, produces a range of products for the Nigerian market, including sanitary pads, diapers, detergents, toothpastes and shaving sticks.

It also firmly denied it was leaving the country then, saying it was not struggling with competition. The $300 million plant, which was turned into a warehouse for imported products and has since been sold, was the single biggest non-oil investment of the United States in Nigeria.

P&G’s Chief Financial Officer, Andre Schulten, during a presentation at the Morgan Stanley Global Consumer and Retail Conference, noted that operating in Nigeria has become increasingly difficult.

As a result, he said, the company was implementing a restructuring program to optimise its operating model and portfolio, focusing on markets with greater potential.

“The other reality that arises in some of these markets is that it gets increasingly difficult to operate and create U.S dollar value.

So when you think about places like Nigeria, it is difficult for us to operate because of the macroeconomic environment.

“So with that in mind, we are announcing a restructuring program with the intent to adjust the operating model and adjust the portfolio to ensure that we maintain the portfolio discipline that has brought us to this point. We will turn Nigeria into an import-only market, effectively dissolving our footprint on the ground,” he said.

He said the decision would help them focus on markets that have the highest potential. Revealing that Nigeria is a $50 million net sales business, compared to its overall portfolio worth $85 billion, he said they do not anticipate any material impact on their balance sheet from a sales or profitability standpoint.

This is coming just months after big multinationals including, GSK, Unilever, Sanofi, Guinness Nigeria and Evans Medical notified stakeholders of pulling back or stopping operations in Nigeria listing FX issues and harsh operating environment. Since GSK and Evans pulled out, the cost of their drugs has skyrocketed well beyond the reach of Nigerians.

Earlier this year, the umbrella body for local manufacturers, the Manufacturers Association of Nigeria (MAN), revealed that over a hundred companies have ceased operations in the country, listing lingering foreign exchange scarcity, poor power supply, port congestion, multiple taxation, insecurity, worsening purchasing power, high operating costs, harsh business environment and poor infrastructure, among other issues as reasons for the rapid depletion.

MAN President, Otunba Francis Meshioye, warned that if these issues are not addressed soon, more companies would follow suit, worsening the unemployment situation in the country. Despite promises from President Tinubu to improve the ease of doing business and revamp the sector, this has not reflected on manufacturers as many players are pivoting or completely shutting down operations, sticking to import or handing over distributions to a third party. (The Guardian)

29/11/2023

DON'T QUIT YET

If a child can exhibit such determination, why do we as adults often give up after just one or two failures? The reason is straightforward: the child isn't burdened by shame after failed attempts, allowing for renewed determination with each setback. Don't abandon your dreams, and never feel ashamed of your hustle—it's your lifeline.

Send a message to learn more

25/11/2023

WIKE and Godfatherism... What changed?

18/11/2023

TO ALL UNPAID WORKERS AND PENSIONERS IN IMO STATE

17/11/2023

48 Million Nigerians Still Defecate Openly – FG - Health

The Federal Government on Thursday, said 48 million Nigerians still practise open defecation, and many people still use the bush and water bodies as their regular means for excreta disposal.

Speaking during the joint press briefing organised by the Ministry of Environment and the Ministry of Water Resources and Sanitation, in commemoration of World Toilet Day in Abuja, the Minister of Environment, Balarabe Abbas noted that many institutions do not have sanitary facilities and where they exist they are either not functioning or misused.

Abbas stressed that most urban areas do not have sewerage systems and safe collection of sewage, hence disposal becomes a huge challenge.

The PUNCH reports that WTD is commemorated on November 19 to raise awareness of the billions of people living without access to safely managed sanitation.

This year’s theme – ‘Accelerating Change’ underscores the need for every sector and every Nigerian to play a role in tackling the sanitation crisis.

“This year’s WTD commemoration presents an opportunity to bring to our consciousness that with just seven years left, the world has to work, on average, five times faster to meet the sanitation target of SDG six on time. This therefore should stimulate and spur the government and the citizenry to action to improve and change the narratives.

“Toilets are a foundation stone of public health and they play an important role in protecting the environment. They effectively and hygienically remove human waste away from the home, reducing the exposure our loved ones have to human waste and diseases.

“Unfortunately, toilets and the sanitation systems that support them are underfunded, poorly managed or neglected in many parts of the world including Nigeria with devastating consequences for health, economics and the environment particularly in the poorest and most marginalized communities.

“Right now, about 4.2 billion people in the world live without safe toilets and about 48 million Nigerians still practice open defecation, as many people still use the bush and water bodies as their regular means for excreta disposal. Many institutions, public and private, do not have sanitary facilities and where they exist they are either not functioning or misused.

“Most urban areas do not have sewerage systems and safe collection of sewage. Therefore, disposal becomes a huge challenge as many of the water bodies including rivers and streams become a repository for sewage and wastewater.”

The Minister said the sanitation crisis poses a threat to the environment and the health of citizens, particularly women, girls and other vulnerable groups.

According to him, one of the major consequences of poor excreta and sewage disposal is the high rate of diarrhoea disease which is the second cause of high morbidity and mortality rates among children under the age of five.

“The persistent re-occurrence of annual incidences of cholera outbreaks in some of our states are also manifestations of inadequate toilet facilities. Yet this could also be prevented through safe excreta disposal by every individual,” he added.

He, however, said the government is committed to addressing the sanitation challenges in the country and ensuring proper management of excreta.

Corroborating, the Minister of Water Resources and Sanitation, Joseph Utsev over 40 percent of wastewater is discharged into the environment without treatment.

Utsev said some of the untreated wastewater is being used in irrigation farming and the produce consumed with the attendant risks.

Utsev said, “In Nigeria, over 100 million persons lack access to basic sanitation while an estimated 48 million practice open defecation which puts the country among the countries with the highest number of people involved in this practice.

“The government recognises that access to adequate Water, Sanitation and Hygiene services is a critical factor for the socio-economic development of any nation with implications for human capital outcomes such as early childhood survival, health and educational attainment.

“In addition, the practice of open defecation due to the dearth of sanitation facilities is directly correlated with sanitation-related diseases, poor educational outcomes and loss of productivity. This is besides such as other consequences such as the concomitant lack of dignity, inconvenience and violence experienced by women and girls when practicing open defecation.”

He said the government has initiated interventions through the WASH programmes and projects to accelerate progress towards national targets within the context of the global commitment.

“Appreciable progress is being made towards the attainment of the Open Defecation Free status in communities and Local Government Areas across the country. In this regard, it is noteworthy that 105 Local Government Areas and over 40,000 communities have achieved the ODF status.

“Despite this encouraging development, we need to do much more in order to attain the 2025 target date of ending open defecation in Nigeria,” he stated.

17/11/2023

"NIGERIA WILL SI*NK IN POV*ERTY..."

Is this prophesy already being fulfilled?

17/11/2023

Do you still remember HANKS ANUKU, the Renowned Nollywood Superstar...❓

16/11/2023

11 COUNTRIES THAT ARE BUYING PRODUCTS FROM NIGERIA RIGHT NOW:

Japan and ten other countries import agricultural products, minerals, and commodities from Nigeria.

According to a Standard Chartered report, Nigeria’s exports are projected to reach $127 billion by 2030, with an average annual growth rate of 9.5% between 2021 and 2030.

This signals the immense potential for businesses and investors. Diverse goods, including sesame seeds, copper ingots, and aluminium products, are in high demand.

Dry hibiscus flowers are also making a name for themselves in the international market, and these examples only scratch the surface of the exciting opportunities in global trade.

According to Dele Ayemibo, Export Doctor, here are what these countries, and several others, have to offer in terms of exports from Nigeria.

Japan primarily imports different types of sesame seeds, copper ingots, and aluminium products like ingots and alloys from Nigeria.

Jordan primarily imports palm kernel shells, hibiscus flowers, sesame seeds, gum Arabic, stone flour, clear float glass, and blue reflective glass from Nigeria.

Kazakhstan primarily imports dry hibiscus flowers from Nigeria.

Kenya primarily imports from Nigeria zinc ash, dry split ginger, natural rubber, foodstuffs, dark gray reflective glass, and aluminium ingots.

Kuwait’s primary imports from Nigeria include cashew kernels and bird’s eye chilli.

Latvia primarily imports cashew kernels, pet flakes, hibiscus flowers, dry split ginger, and brown bale bottles from Nigeria.

Lebanon primarily imports sesame seeds, palm kernel shells, cocoa shells, cashew kernels, and bronze reflective glass from Nigeria.

Liberia primarily imports cosmetics, Star Lager beer, Legend beer, MPK fertilizer, Maltina Classic, locally made Aba slippers, hair attachment products, empty bottles, beverages, and baby diapers from Nigeria

Libya primarily imports cashew kernels, hair products, rub, Stella pomade, and dry split ginger from Nigeria

Lithuania imports dry split ginger, technically specified rubber, polyester table fiber, hull sesame seeds, and hibiscus flowers from Nigeria.

Malaysia Imports tin ore, tin concentrate, technically specified rubber, raw cocoa beans, fermented cocoa beans, lead ore and lead ingots, columbite, crude shea butter, dry cocoa beans, aluminium alloys, aluminium ingots, cassiterite ore, iron ore, and hull sesame seeds from Nigeria.

One of the major factors affecting exports is payment risk. Dele emphasized in a video the importance of addressing payment risk in international trade, a concern that often plagues importers and exporters, especially in the export business.

He underscored the significance of a letter of credit as a pivotal trade finance instrument, highlighting its role in mitigating payment risk and the variant called the “confirmed letter of credit,”.

Dele defined a letter of credit as “an undertaking of the buyer’s Bank given to the seller, which gives assurance of payment when the shipment is made, and documents are presented that confirm to the terms and condition of letter of credit.”

He further explained certain countries are exposed to political and economic risks, prompting the need for additional security in trade transactions. In such cases, a confirmed letter of credit from a third-party country is a safeguard.

For instance, if you’re exporting goods to Venezuela, the Venezuelan bank issues an LC to you as the exporter, but they initially send this LC to Citibank in New York. Citibank in New York forwards the LC to your bank, ensuring a reliable trade process.

“Confirmation involves another bank, otherwise called the confirming Bank in another country giving additional undertaking plus the undertaking of the import Bank.”

16/11/2023

With this latest development both NLC and TUC should no longer think of going on another strike whether or not the government fulfils her own part of the bargain so long as they (the government) continue making promises which the leadership of both trade unions trust. The simple fact that most, if not all other trade unions in the country joined this strike and brought the government down to its knees ought to have given the NLC/TUC the impetus to capitalize on and insist that government implements all previous agreements reached with the Nigerian workers before this all important strike could be called off. Again, NLC/TUC ought to understand that the other unions didn't join this strike mainly because of the Injustice meted out to the NLC President, but precisely due to the general debilitating economic condition in the country. Hence, the need to insist on the government reversing all those anti people policies that have reduced Nigerians to near beggars. This is indeed a lose of a golden opportunity. How does the leadership of the unions expect workers to respond positively to a call for another strike action on the condition that those culprits purportedly arrested have been released instead of being prosecuted as promised by the government? This is THE ILLOGICALITIES OF NLC/TUC LOGIC after missing this golden opportunity.

11/11/2023

R**e is evil. Think it not. Say no to it. Seek help if you feel like engaging in it. May God help you.

11/11/2023

See the numbers to contact if you notice any irregularities in today's Off Cycle Elections in BAYELSA, IMO & KOGI STATES.

09/11/2023

MORE UPDATES ON THE NLC SHUTDOWN OF THE ABUJA AIRPORT

09/11/2023

Abuja airport grounded by NLC due to assault on NLC president in Imo State.

08/11/2023

ANY DEMOCRACY THAT CANNOT GUARANTEE THE FREEDOM OF THE PRESS IS DOO*MED!!!

Against all odds, the Media, opposition parties and civil societies resisted the National Commissioner for South East INEC Commission, Hon. Ukeagu Kenneth Nnamdi's directive that the media should put off their cameras during the stakeholders meeting...

07/11/2023

... doing it all for you.